Litecoin (LTC), released in October 2011, is a global decentralized digital currency, based on blockchain technology. It is often referred to as a lightweight Bitcoin, because it's technically nearly identical, but substantially cheaper. All transactions are recorded on a public ledger called The Blockchain. It allows faster processing and faster transaction confirmation. It has the fourth largest market capitalization of all the cryptocurrencies and is carried by many exchanges.
The number of units is capped at 84 million and almost 49 million are in supply. Because of this cap, inflation won't decrease their value. Litecoin miners use their computers resources to support the cryptocurrency that's based on an open source protocol and get rewarded with Litecoins if they have done a certain amount of cryptographic work. Units can be bought or sold against bitcoin or against a fiat currency like the USD or the EUR. You can also purchase good and services with them.
Litecoin ( LTCUSD’) needs no introduction. We will be looking at it shortly and going straight to the trade:
snapshot
- We have a falling wedge , which is a bullish pattern .
- LTCUSD’ is now sitting at 2017 strong support levels.
- MACD curving up and bullish crossover.
Trade instructions for Litecoin’ (LTCUSD) by Alan Masters
Buy in: $50 – $54
Targets ...
Potential for a long trade here on LTC after this pullback. There is some resistance at target 1 however if this breaks price could reach target 2 at AB=CD extension. On this chart I have incorporated the ZenTrend and Hoffman scripts for entry, stop and targets.
Technical analysis:
. LITECOIN/BINANCECOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 41.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (5.50 to 4.70). if so, traders can set orders based on Price ...
LTC is close to its trend line which has been in a downward trend since 14th of January, we have two targets which are both marked in the (RED SQUARES). Litecoin has lost significant value since January but as we reach the trend line, a possible breakout is in play.
Technical analysis:
. Litecoin/Bitcoin is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
. While the price downtrend in the Daily chart is not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary ...
Litecoin is one of the most bearish assets out there last days. Since 15th of Oct. it didn´t even get above the BB mean. It looks compressed to the downside as much as possible.
Anyway, I think things might change. It is more risky trade indeed, but we can see:
- A bullish wedge in created on the 4hr timeframe.
- Bullish divergence on RSI and stochastic ...
LItecoin Looking to retest the 200MA, at the moment this could be a risk as the market seems to be falling. But MACD has crossed slight towards buying power, RSI is oversold and LTC is ready to push out slightly, Holding a support of $52 which has held well for the time being, but it has been tested a few times of the last few weeks.
LTC has closed the daily candle at its lowest point of 2018, Red zone indicated in the next target, even the blue zone is a possibility while many people wont even think it is. RSI looks like we are still in a oversold market and looks like it isnt stopping.
As we near the end of 2018 we could still be seeing new lows for LTC, 200MA looking to play flat for a few weeks, Lows for 2018 in my opinion have not been seen yet, 7300 sats is a true possible outcome. My start of year target could be in play with the like of ETF being agreed around this time in my opinion.
The same zones i stated one year apart are very ...
LTC has hit its 200MA on the 4HR Chart and is looking towards 9800 Sats then a possible target of 10700 Sats, Broke out of the Ichimoku Cloud and is acting as a form of support, MACD has turned positive and are looking for more gains in the next few days/weeks.
LTC has found a small resistance standing on the Blue Line where the arrow states $63.. If we can close above this candle next targets could be as much as $65 & $67.. Support stands at $60..
LTC has done a exact box movement thats mimic's last month box. Once we cross the trend line, we could be heading towards (Red Zone).. Could we see $40...
LTC continues to be dictated by the 50MA and as we can see a possible downside leg is soon as the 50MA comes closer to become even more of a resistance.
After the Loss of 10 Billion in the market, the final push towards the downside is on its way. After Litecoin lost its support we could be heading down to a new low of $44. This support is a very major level and i do believe we could even break this and head towards $39.
As Litecoin broken the trend resistance and is now resting on it, we could see a push towards $62-$65 region as also the Litecoin Summit is today and tomorrow which could bring a price surge with that.
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![LTCUSD: [LTCUSD] Litecoin LONG Trade Signal [650%+ PP]](https://s3.tradingview.com/l/LHQlFBLX_mid.webp "[LTCUSD] Litecoin LONG Trade Signal [650%+ PP]")
